Vietcap Daily - VN-Index posts marginal gain of 0.2% to open the new year

* PMI remains below 50 due to subdued demand

* Banking sector: The portion of term deposits from the State Treasury that is added to the denominator of regulated LDR calculation reduces to 40% from 50% starting from January 1, 2024

* BSR: Revised 2023 NPAT guidance suggests slight downside risk to our forecast, revised DPS in line with expectation

* VIB: Preliminary 2023 NPAT trails our forecast; shareholders approve cash dividend plan

* Market wrap: VN-Index posts marginal gain of 0.2% to open the new year

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Market wrap: VN-Index posts marginal gain of 0.2% to open the new year

On Vietnam’s first working day of 2024, the VN-Index gained 0.2% (+1.8 pts). The banking sector led the session’s gain while real estate weighed it down. In total there were 197 gainers, 299 laggards, and 77 stocks that were unchanged. Total trading volume was USD702.6mn.

* In banking, VCB (+3.99%) was the day’s biggest positive contributor after plunging in the last session of 2023. CTG (+0.4%), TCB (+0.9%), MBB (+1.1%), and ACB (+2.3%) also gained. BID (-0.9%) and VPB (-1.8%) declined.

* Large-cap real estate stocks were down across the board. VIC (-1.4%) and its subsidiaries VHM (-0.5%) and VRE (-0.9%) fell. BCM (-1.6%), NVL (-1.8%), and KDH (-1.8%) sharply dropped.

* Food & beverage players VNM (+1.04%), MSN (+2.1%), and SAB (+0.8%) increased. HAG (3.03%) soared after falling for consecutive sessions.

* GAS (+0.1%) edged up, technology firm FPT (-0.2%) inched down, and rubber producer GVR (-1.2%) and steel maker HPG (-1.8%) tumbled.